Borealis formally acquires DuPont stake in Dutch polymers venture
Borealis announced Monday that it has completed the acquisition of DuPont's shares of the Speciality Polymers Antwerp joint venture.
Previously, Speciality Polymers Antwerp, located in Zwijndrecht (Antwerp, Belgium), was a joint venture between DuPont (67%) and Borealis (33%).
"The acquisition of the full ownership of Speciality Polymers Antwerp is in line with our strategy to grow our polyolefin business in specific market areas", says Mark Garrett, Borealis CEO.
"Acrylate copolymers, which are part of a broader portfolio of specialty polymers produced at Speciality Polymers Antwerp, are an important building block for our value-added products sold into our core energy and infrastructure market," he added.
Under the new arrangement, DuPont will continue to serve the market with ethylene vinyl acetate (EVA) and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate (EVA) and acrylate copolymers from the Specialty Polymers Antwerp facility.
Borealis says it intends to fully integrate the new site and its employees into the Borealis organization. The company will start the full integration of the site and its activities, a process in which safety and business continuity will be key, according to company officials.
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